Latest ABS news
ICAP Energy has appointed Nicholas Ernst and Eric Ernst to spearhead a drive into the weather derivatives market.
Residential Property Assessed Clean Energy (PACE) finance companies are looking to re-educate contractors and more directly market PACE to consumers in order to clear policy hurdles that have stifled origination volumes over the past year.
Mercedes-Benz Auto Finance is on track to price its largest ABS trade under the Silver Arrow China series. The originator, having previously turned to Moody’s and Fitch for international ratings, switched to S&P and gained an AAA rating for its deal.
China Construction Bank is looking to close its Rmb10.25bn ($1.53bn) Jianyuan 2019-2 residential mortgage backed securities transaction next week. The deal has an AAA international rating from S&P.
Sustainable finance is bubbling with exciting new initiatives. But making people feel good is not enough. Activity needs to produce results, and so far there is more noise than movement. The tone is far too sedate — it needs some hard core activism to break the torpor.
Enel and NextEra Energy have, on a pilot basis, become the first companies to obtain one of S&P Global’s new ESG Evaluations. The product, launched last week, takes S&P into direct competition with providers of ESG ratings like MSCI and Sustainalytics — and with Moody’s, which a few days after S&P’s launch acquired Vigeo Eiris, the French-based ESG rating firm.
A pair of aircraft deals were priced last week during the the busiest single week for the ABS market since July 2018. Both transactions garnered considerable attention among securitization investors, pointing to high hopes aviation finance participants have for the sector in 2019.
Moody’s has acquired a majority stake in Vigeo Eiris, the environmental, social and governance research and ratings provider, as the credit rating agencies move increasingly into the area of ESG investing. The announcement comes just days after S&P Global launched its new ESG Evaluation product.
BMW Automotive Finance (China) is on track to launch its debut auto lease receivables-backed securitization. The company is expecting to close the Rmb2.5bn ($373m) Bavarian Sky China Leasing 2019-1 asset backed note later this week.
The ABS primary market saw $11.52bn of issuance across 15 deal this week, marking the busiest week of 2019.
Go to GlobalCapital's Securitization data pages for our dealflow database, plus details of priced European and US CLOs and structured finance bookrunner league tables.
Latest securitization people & markets news
- Icap hires Ernst and Ernst as it pushes into weather derivatives
- Italy missed a trick by keeping UTPs out of GACS
- Full plate for Nochu drives managers to pre-crisis deal structures
- Capital markets need an Extinction Rebellion
- S&P goes its own way on ESG ratings
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Latest news by market and league table performance
|Rank||Lead Manager/Arranger||Total Volume $m||No. of Deals||Share % by Volume|
Bookrunners of Global Structured Finance
|Rank||Lead Manager||Amount $m||No of issues||Share %|
|3||Wells Fargo Securities||24,627.51||67||9.16%|
|4||Bank of America Merrill Lynch||23,023.30||73||8.56%|